Omar Abdul-Hameed voluntarily dismissed his lawsuit against Snap Inc., CEO Evan T. Spiegel, and CFO Derek Andersen on Dec. 19, 2025. The lawsuit alleged Snap hid a technical issue that reduced advertising revenue prior to reporting weak second-quarter 2025 results. The dismissal followed a federal judge naming Abdul-Hameed lead plaintiff two weeks earlier. Snap had cited an ad-platform problem, the timing of Ramadan, and other factors for a topline revenue growth slowdown. Snap's stock fell more than 17% the day after the company reported the slowdown.
"December 22, 2025, 5:08PM UTC Photographer: Chris Ratcliffe/Bloomberg A Snap Inc. investor voluntarily dismissed his lawsuit alleging the Snapchat owner hid a technical issue that impacted its advertising revenue before reporting underwhelming 2025 second quarter results. Investor Omar Abdul-Hameed dropped his lawsuit Dec. 19, two weeks after US District Court for the Central District of California Judge R. Gary Klausner named him lead plaintiff."
"Abdul-Hameed sued Snap, CEO Evan T. Spiegel, and Chief Financial Officer Derek Andersen after Snap attributed a topline revenue growth slowdown to the issue with its ad platform, Ramadan's timing, and other effects. Snap's stock price plummeted more than 17% the next day, ... Bloomberg Law provides trusted coverage of current events enhanced with legal analysis. Log in to keep reading or access research tools and resources."
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